refining News & Analysis
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Market Mood
Ecopetrol (EC) Reports 725K Barrels Oil Equivalent Production Q1 2026
Ecopetrol (EC) reported a production of 725,000 barrels of oil equivalent per day in Q1 2026, with domestic crude production at 527,000 barrels per day. Transportation increased by nearly 2% year-over-year, moving 1,122,000 barrels daily. Refining throughput reached 417,000 barrels per day, marking a 5% increase from Q1 2025, while the refining margin rose to $17.3 per barrel, up 60% compared to the previous year. The company is also advancing its acquisition of a majority stake in Brava Energia in Brazil, which is expected to enhance its asset portfolio.
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Phillips 66 (PSX) Upgraded by Morgan Stanley on Refining Margins
Morgan Stanley has upgraded Phillips 66 (PSX) based on improving refining margins. This upgrade reflects anticipated gains in the company's profitability, influenced by rising demand for refined products. The upgrade may positively affect investor sentiment and trading volumes for PSX shares in the market. As refining margins strengthen, Phillips 66 could see an increase in earnings expectations.
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Delek (DK) Increases EOP Guidance to $130-$170 Million for 2025
Delek (DK) reported strong operational performance in Q2 2025, achieving record throughput at its Big Spring refinery. The company announced it is increasing its enterprise optimization plan (EOP) guidance to a run rate of $130 million to $170 million, up from a previous target of $120 million. Approximately $30 million in cash flow improvements were realized during the quarter, demonstrating progress ahead of schedule. The adjustments aim to enhance cash flow generation and operational efficiency across the company's refineries.
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